Sponsored Listings:
Disney’s parks and resorts have a track record of growth, and popular Disney franchises like Pixar and Star Wars have propelled expansion into overdrive.
“When you look at the results of our international parks — Shanghai, and the improvements we’re seeing in Paris and the restructuring in Paris as well as Hong Kong and even Tokyo — we have ample opportunity to continue to invest and continue to expand those businesses. And with the franchises that we have and their popularity in these markets, the opportunity actually has increased significantly over the last few years,” Disney CEO Bob Iger said during the company’s earnings call last week.
Disney CFO Christine McCarthy said a considerable amount of the company’s $1 billion in planned capital expenditures for 2018 will go into parks and resorts projects such as the Star Wars-themed lands at Disney’s Hollywood Studios in Florida and Disneyland in California, and Toy Story Land at Hollywood Studios.
“This is a business that we feel very confident in and the business is working right now at a very high level and will continue to do so,” said McCarthy.
While Disney’s media networks, studio entertainment, consumer products and interactive media divisions have slumped, parks and resorts have not. For the year ended Sept. 30, operating income for parks and resorts increased 14%, to $3.7 billion. Revenue grew 8%, to $18.4 billion.
Disneyland Paris benefited from the resort’s 25th anniversary celebration and “a more favorable tourism environment,” noted McCarthy.
In addition to the new franchise-related attractions planned at the parks for the coming months and years, there will also be an opportunity to celebrate the most classic Disney character this coming year. McCarthy pointed out that Mickey Mouse’s 90th birthday is coming up on Nov. 18, 2018, which is “something that the entire company’s going to get behind,” she stated.
Source: travelweekly.com
